REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2021 |
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NORFOLK COUNTY FOOTBALL ASSOCIATION |
LIMITED |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2021 |
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FOR |
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NORFOLK COUNTY FOOTBALL ASSOCIATION |
LIMITED |
NORFOLK COUNTY FOOTBALL ASSOCIATION |
LIMITED (REGISTERED NUMBER: 03830562) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 June 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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NORFOLK COUNTY FOOTBALL ASSOCIATION |
LIMITED |
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COMPANY INFORMATION |
for the year ended 30 June 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Certified Accountants |
& Statutory Auditor |
124 Thorpe Road |
Norwich |
Norfolk |
NR1 1RS |
NORFOLK COUNTY FOOTBALL ASSOCIATION |
LIMITED (REGISTERED NUMBER: 03830562) |
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BALANCE SHEET |
30 June 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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RESERVES |
Income and expenditure account |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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NORFOLK COUNTY FOOTBALL ASSOCIATION |
LIMITED (REGISTERED NUMBER: 03830562) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 June 2021 |
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1. | STATUTORY INFORMATION |
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Norfolk County Football Association Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of services (excluding value added tax) and revenue grants received. |
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Tangible fixed assets |
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Freehold property | - |
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Long leasehold | - |
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FDC Pitches | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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The directors perform an annual impairment review of freehold property and long leasehold property to ensure that the recoverable amount is not lower than the carrying value. They consider that there has been no impairment during the year. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
NORFOLK COUNTY FOOTBALL ASSOCIATION |
LIMITED (REGISTERED NUMBER: 03830562) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a workplace pension scheme in line with auto-enrolment. Contributions payable for the year are charged in the profit and loss account. |
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Grants received |
Grants relating to assets are recognised in the income statement on a systematic basis over the expected useful life of the asset. |
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Contributions to revenue expenditure are recognised in the profit and loss account in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 July 2020 |
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Additions |
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Disposals | ( |
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At 30 June 2021 |
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DEPRECIATION |
At 1 July 2020 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 June 2021 |
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NET BOOK VALUE |
At 30 June 2021 |
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At 30 June 2020 |
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NORFOLK COUNTY FOOTBALL ASSOCIATION |
LIMITED (REGISTERED NUMBER: 03830562) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2021 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST |
At 1 July 2020 |
and 30 June 2021 |
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NET BOOK VALUE |
At 30 June 2021 |
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At 30 June 2020 |
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The directors consider the market value of fixed asset investments not to be materially different from their original cost and therefore appropriate to disclose as such. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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9. | RELATED PARTY DISCLOSURES |
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There were no business relationships or related party transactions during the year. |
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10. | THE FDC PHASE 2 PROJECT |
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After the balance sheet date a grant of £646,040 has been formally agreed with the Football Foundation. This grant secures the funding required for the Field of Dreams redevelopment project with expected total costs in excess of £1 million. |